I'm a retired software dev and have messed around with it on some of my personal projects.
It's good for mundane stuff. I've used it to optimize DB queries, write sorting code, scan emails for certain things. And it's not correct the first time. But it saves me time.
I think it will be one of those brute force things that save coders time.
Software development is three things: design, the coding with compilation in some language, and finally testing.
The coding and compilation is the menial part. AI should be great for significantly reducing that burden.
Design is a whole other ballgame at a much higher intelligence level.
Testing has its own set of challenges.
There is a lot of comments here. I'm soon to be retired but I am still writing code at my advanced age and luckily the firm I work for is really pushing the envelope on coding assistants. Sparky and AudreyH summed up my current take on the matter.
Personally, I have some S/W toolkits that I have developed and used for decades. The language and approach changes but the toolkit mostly remained the same. Much of it just automates mundane and complex things by generating and iterating lists, running complex queries and scrapes and doing many time-consuming functions instantaneously (or near instantaneously). I have taken most of my tools and for the most part optimized almost all of them with different approaches to how I coded them in many cases and making them far more robust and useful. This is very difficult to quantify and I just refer to it as polishing. To the layman just think of your iPhone and iOS as it is still the same architecture as Steve Jobs announced but has been continuously polished for a very long time. Polishing is something that is underappreciated in my opinion.
Regarding AI chatbots used for coding:
My first take is jobs will be lost but those jobs probably deserve to be lost as they will be for lower performers who just grind out work but really don't add much value like continuous improvement and new ways of thinking. I call these people drones, quite capable in writing code but not capable of any sort of deep or moderate thinking. Yes, I'm arrogant and condescending but it is what it is.
My second take is that these coding assistants are really good at doing the most mundane work like tweaking syntax, analyzing structure and optimizing functional snippets of code. They are doing great at increasing the productivity of architect-level coders who have much to think about and too little time to actually grind out complex code.
My last take is controversial and questionable. I feel that there will always be a human element required to put together requirements and formulate overall architectures that will produce useful functionality that solves problems. Chatbots are not good at this because it requires being visionary to a certain extent and that is a far more complex nuance to problem solving. I don't think a chatbot is near that level as it is essentially AGI.
Lastly, AudreyH's mention of testing is relevant. I see it in my current workplace and people are using chatbots to write tests, to enhance existing tests and to make pipelines are more robust and reliable, reducing the iterations required to reduce defects. I think the fact that testing is so unglamourous and so mundane that it gets largely ignored
EDIT:
Oh yeah, my takes here are arrogant and condescending but this is an anonymous forum so I can vent about this freely here. I don't air these views publicly at the workplace because it comes off as "grumpy old man" stuff. I just keep my S/W religion and politics to myself at work and professionally and I think the younger engineers respect me for this.